(Reuters) - Amazon.com (NASDAQ:AMZN) is laying off 5% of the workforce at Audible, Business Insider reported on Thursday, citing a memo by the head of the audiobook and podcast division.
The news comes a day after the e-commerce behemoth said it would lay off hundreds of employees in its streaming and studio business, as tech companies extend their massive job cuts over the past two years into 2024.
"I want you to know that we're making these decisions to strengthen our business for the long term," Audible CEO Bob Carrigan wrote in the memo, according to the report.
Amazon, which bought audiobook platform Audible for about $300 million in 2008, did not immediately respond to a Reuters request for comment.
Google-parent Alphabet (NASDAQ:GOOGL) also said on Wednesday it was laying off hundreds of employees across multiple teams.
The job cuts come at a time when big technology companies such as Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META) are pouring billions of dollars into generative artificial intelligence following the success of OpenAI's ChatGPT.
Last year, Amazon cut more than 27,000 jobs as part of a wave of U.S. tech layoffs after the industry hired heavily during the pandemic.